A major Japanese bank has now been swept up in the collapse of Bitcoin trader Mt Gox, with Mizuho Bank named as a defendant in one of the many lawsuits cropping up over the collapse. The bank has been added to a lawsuit against Mt Gox, since by providing services to the former Magic-the-Gathering card trading operation, the …

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Monday 17th March 2014 05:19 GMT Ole Juul

Who's on first?

Although I do feel sorry for some of the characters, I'm starting to like the script.

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Monday 17th March 2014 08:52 GMT d3rrial

Justified?

They were their banking partner. I don't see how it's justified to sue them, after all they aren't responsible for what their customers do.

This is going to turn out very bad for many other Bitcoin businesses, as potential banks will now look more than twice if they should accept a Bitcoin business as their client, as "these people" seem to be quite sue-happy.

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1. Monday 17th March 2014 09:24 GMT auburnman
  
  Re: Justified?
  
  I think it'll all depend on how easily the Japanese bank brushes this off. Unless the lawsuit-flingers have proper evidence that the bank really did do something wrong, I can't see this sticking. I would imagine other banks around the world are in "wait and see" mode, much like the rest of us (possibly +/- popcorn.)
  
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2. Monday 17th March 2014 11:42 GMT Anonymous Coward
  
  Re: Justified?
  
  This is going to turn out very bad for many other Bitcoin businesses, as potential banks will now look more than twice if they should accept a Bitcoin business as their client, as "these people" seem to be quite sue-happy.
  
  The person launching the sueball is an American - they always seem to prefer to sue first and spit on your corpse later.
  
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3. Monday 17th March 2014 11:45 GMT Anonymous Coward
  
  Re: Justified?
  
  quite sue-happy - Isn't that just an American's modus-operandi?
  
  I have very little sympathy for anyone who has lost money on this MtGox debacle. They bought into an online non-government backed money laundering system, but now expect the government backed courts to bail them out. As usual, the only ones who will win are the lawyers, I bet they are not charging their exorbitant hourly rate in BitCoins!
  
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Monday 17th March 2014 09:38 GMT Bluenose

Desperation creeping in!

Can't see any legs in this one. The Bank would have had to know the customers in order to segregate their cash. As thebank's customer was Mt Gox can't see how Mr Greene would have been known to them therefore to remote from the claim and thus no chance of winning.

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Monday 17th March 2014 09:39 GMT Anonymous Coward

Just like the "names" at lloyds many moons back

We're rolling in it, this syndicate membership insurance lark is a license to print money

(some natural disasters occur and the members lose some money)

Damn, we're having to pay some money out, UK Government, we'll sue you and get our money back cos we dont like "investments can go down as well as up" part of being rich.

I can see them all crying in their skinny latte's

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Monday 17th March 2014 10:38 GMT Velv

If you will insist on dealing outside the regulated currency markets then you're going to get stung when they collapse/walk off with your money.

The banks won't deal in fiddling small change, and nobody's ever owned enough Ningi's to have one Pu.

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Monday 17th March 2014 11:04 GMT Anonymous Coward

Says it all

the former Magic-the-Gathering card trading operation, the complainants say, it “aided in a fraud”.

Apt name. They gathered all the bitcoins and then like magic they were gone...

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Monday 17th March 2014 11:33 GMT flibbertigibbet

Run for the hills

Hmmm. So some Mt Gox victims are angry enough to sue a Japanese bank. Given enough anger and desperation some people will do anything.

When $350M has been lost there will be no shortage of anger. People will be angry enough to chase these bits down down, for years if needed. Some people might waste their time on suing Mt Box banks, but others will be clever, and technically literate.

Hence the icon. If it was me, heading off to my Montana bunker complex would be my very next move.

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Monday 17th March 2014 17:43 GMT Old Handle

Aw geez

Now banks are going to be even less willing to touch anything Bitcoin related.

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Tuesday 18th March 2014 01:30 GMT Fluffy Bunny

The first rule of jurisprudence

They have just applied the first rule of jurisprudence - follow the money. What point suing a company in receivership - even if you win, you get nothing because they have nothing to pay you. Instead, sue the bank that still has lots and lots of lovely money.

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